[ANN] AIRcoin

[Shadow_Runner]

Mining this now. So small block reward.

[Shadow_Runner]

Premined blocks also has 3.72 reward?

[oldmarsh]

2.5 mil premine

initial block reward 3.72 until things get fixed

am I the only one that sees a red flag or 2?

Lol that is hilarious!

[AIRcoin]

I advise everyone to stay away since this is highly likely to be a  scam and the developer is ignoring our complaints.

"
We would like to operate our own node servers first, which are working on, and we will not release the source code immediately. There are plans for a release of the source code in the near future, however, after more pressing matters have been attended to.
"

Is a good indication that something is wrong.
Be skeptical and the dev SHOULD try to prove he is in fact legit.

All complaints have been answered (and the node server issue fixed, as outlined in my previous posts) and they have been answered hopefully in a satisfactory and timely matter. Our team, which has put significant work into the coin and have even greater work to do in the future, has chosen not to release the source code immediately. That is our decision and we stand by it.

If you absolutely, without doubt, cannot use a coin that doesn't release their source code, then I must admit that you should look at a different coin for now. I understand the importance of being cautious.

Premined blocks also has 3.72 reward?

The first 5 premined blocks had a reward of 2,500,000/A. This comprises the 0.25% premine.

The 6th block, a mined test block, has 3.72/A and is being used for the pool contest today.

Future blocks will have 3.72/A until we have decided to enter into a reputable exchange (we have been given offers to start on an exchange from launch, but we have declined for now until we have a stronger support community first). Then, after the exchange rate has stabilized, a new version of the wallet will be released that has a dynamic block reward based off exchange rate data from the exchange.

So if the price ever rises considerably, the block reward will increase to help stabilize the rate by reducing the cost of mining. This means that when investors are making the most money, miners will benefit from their success. When the miners are making the most money (high block reward) investors will benefit from their success, when the inflation rate is reduced as the exchange rate decreases, helping push the rate back up.

The 3.72 amount was chosen under the equivalent-bitcoin-per-kilohash-per-day formula, which places the bitcoin-per-kilohash-per-day of scrypt coins to be close to .00002000 . Since miners tend to mine whatever coin is most profitable, and heavily mined coins exhibit heavy inflation, there is a relationship between exchange rates, difficulty, and block reward that produces that equilibrium value. We chose 3.72 as a starting point to ensure a good exchange rate from launch (>.001 BTC/A) assuming an average network difficulty between 5 and 10 at the time.

[sussex]

aircoind:

https://www.virustotal.com/en/file/a5c6b40a171ef632fcbf7ea641f9f5ff3c9be6319509c966fee54947f2ec0e95/analysis/

[Shadow_Runner]

aircoind:

https://www.virustotal.com/en/file/a5c6b40a171ef632fcbf7ea641f9f5ff3c9be6319509c966fee54947f2ec0e95/analysis/

What is "Rising" lol?
Also I think false positive alarm coz pack method.

[Shadow_Runner]

{
"blocks" : 765,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00024414,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 380152,
"pooledtx" : 0,
"testnet" : false
}

[LeFiste]

Thank you Alexander for the well written and very interesting whitepaper. All the people in this thread who are only complaining and accusing should read it first...this coin is different.

[nethyb]

Guys can connect  ... you need more nodes and/or increase maxconnections on your existing node...

2014-02-23 03:38:26 socket closed
2014-02-23 03:38:26 disconnecting node 107.170.20.200:1631
2014-02-23 03:38:32 trying connection 107.170.20.200:1631 lastseen=167.8hrs
2014-02-23 03:38:32 connected 107.170.20.200:1631
2014-02-23 03:38:32 send version message: version 70002, blocks=2472, us=X.X.X.X:1631, them=107.170.20.200:1631, peer=107.170.20.200:1631
2014-02-23 03:38:32 socket closed
2014-02-23 03:38:32 disconnecting node 107.170.20.200:1631

[sussex]

{
"blocks" : 765,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.00024414,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 380152,
"pooledtx" : 0,
"testnet" : false
}

{
"blocks" : 3036,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.01562500,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 7152030,
"pooledtx" : 0,
"testnet" : false
}

Hashrate has gone up a little....

[AIRcoin]

Hashrate broke 10,000,000 as of a few minutes ago. I've been watching it closely.

As of right now, it looks like the additional inflation incurred through early "quick mining" at the low difficulty has resulted in about a 0.95% higher overall inflation rate for the short term (2678.4 vs est. 24000 coins) by the end of tomorrow, short term defined as how long it takes for everyone who will mine in this 24 hour period to sell their coins, which may be months or could be days depending on how you guys decide to hold or not). This means that to offset that, we will need to trade (or increase demand through publicity) .95% higher than our expected 5% higher per week to offset this, or else the total value of coins you guys just mined will go down. That number is certainly low enough for our traders to manage.

In other words, those who mined in the first 30 minutes recieved 48x more proportional coins than normal, those who mined in the first two hours have received between 4-20x more coins depending on what difficulty level they jumped in at. By the end of the day, it should stabilize.

0.95% inflation on day 1 is definitely acceptable, knowing that it will be reduced significantly from here on out after the initial low-difficulty mining is done. I have a feeling that we will more than be able to make up the difference through just a little better trading.

We have forums that will go public tomorrow, stay tuned for more information.

Thanks for the launch.


Welcome to AIRcoin.


-Alexander

[Shadow_Runner]

Well I mined few hours ~1500 AIR and feel stupid right now, if block reward will be changed to x10 or more later.

[sussex]

Well I mined few hours ~1500 AIR and feel stupid right now, if block reward will be changed to x10 or more later.

If I understand this correctly, which I might not, the block reward will only go up if the price goes up and there is substantial interest in the coin - so you should be better off having mined early.

Happy to be corrected by the OP if this is wrong.

[Shadow_Runner]

Well I mined few hours ~1500 AIR and feel stupid right now, if block reward will be changed to x10 or more later.

If I understand this correctly, which I might not, the block reward will only go up if the price goes up and there is substantial interest in the coin - so you should be better off having mined early.

Happy to be corrected by the OP if this is wrong.

Well, let the OP confirms that. Coz I'm not clearly understand. Maybe coz my eng is bad.

[Brilliantrocket]

I'm getting a message that states :no suitable long-poll found for http://127.0.0.01:1630. Is this an issue?

[arniebaby]

I'm getting a message that states :no suitable long-poll found for http://127.0.0.01:1630. Is this an issue?

Not an issue you're solo mining.

[albertdros]

still cant get the wallet to sync with that node...

[Shadow_Runner]

still cant get the wallet to sync with that node...

addnode=46.249.59.220:54255

[psybase64]

still cant get the wallet to sync with that node...

addnode=46.249.59.220:54255

Try this node from the OP.

addnode=107.170.20.200

Wallet sync'd and solo mining with that one.

[psybase64]

Well I mined few hours ~1500 AIR and feel stupid right now, if block reward will be changed to x10 or more later.

Well according to the OP, "... those who mined in the first 30 minutes recieved 48x more proportional coins than normal, those who mined in the first two hours have received between 4-20x more coins depending on what difficulty level they jumped in at."

I wouldn't call getting more coins than forecast stupid. Be happy that you mined more coins than otherwise.